Oracle’s Cloud Thickens

Change in segment reporting will obfuscate important cloud performance

The good news is that Oracle’s cloud business continues to grow. The bad news is that investors will now have to just take the company’s word for it.

The corporate software giant said late Tuesday that revenues from its cloud services businesses jumped 25% year over year to $1.7 billion for its fiscal fourth quarter that ended May 31. That was better than the 19% to 23% rise the company projected three months ago—a projection so disappointing that it took Oracle’s stock price down 8% in response. Cloud revenues are now significant,...